What kind of account is cost of goods sold?
Question:
What kind of account is cost of goods sold?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 62% (8 reviews)
Answered By
CHARLES AMBILA
I am an experienced tutor with more than 7 years of experience. I have helped thousands of students pursue their academic goals. My primary objective as a tutor is to ensure that students have easy time handling their academic tasks.
5.00+
109+ Reviews
323+ Question Solved
Related Book For
College Accounting A Practical Approach
ISBN: 9780134729312
14th Edition
Authors: Jeffrey Slater, Mike Deschamps
Question Posted:
Students also viewed these Business questions
-
What kind of account is Sales Discounts?
-
Conceptually, what kind of account is the Deferred Gross Margin account that arises under the installment method of accounting? How is this account typically classified on balance sheets?
-
What kind of account is Discount on Notes Payable, and how is it reported on the balance sheet?
-
Suppose that the owner of the restaurant in Problem 2.91 also wants to study the demand for dessert during the same time period. She decides that in addition to studying whether a dessert was...
-
Predict the predominant product in each of the following reactions. Explain your answer. 3,4-dibromopyridine + NH3, heat (C5H5BrN2)
-
Three single-phase two-winding transformers, each rated 25 MVA, 54.2 / 5.42 k V 54.2 / 5.42 k V , are connected to form a three-phase Y Y bank with a balanced Y-connected resistive load of 0.6 ...
-
Stone Brewing Co. is a San Diego brewer that has sold its beers for over two decades. Stone has maintained its trademark and brand from the beginning, registering the STONE mark in 1998. Stone has...
-
Homepride Carpet Company manufactures carpets. Fiber is placed in process in the Spinning Department, where it is spun into yarn. The output of the Spinning Department is transferred to the Tufting...
-
Implement the Boolean function F(A.B.C.D) - (0,1,3,4,8,9,15) with a. a multiplexer b. a decoder Question 2 Draw the NAND gate representation of G A+ B'C' + DC. [10 marks] [5 marks] [5 marks]
-
Stella Lam (Stella) recently joins the workforce, and her starting salary is $3,500 per month. The CPF contribution rate (both employer and employee) for her age group is 37%, and this is allocated...
-
What does F.O.B. shipping point represent?
-
A light ray propagates in a transparent material at 15 to the normal to the surface. It emerges into the surrounding air at 24 to the normal. Find the materials refractive index.
-
Diehr wished to patent his process for molding raw uncured synthetic rubber into cured precision products. The process used a mold for shaping rubber under heat and pressure and then curing it while...
-
Edward and Julia are married and have two children under age 18. No family member has minimum essential coverage for any month during 2018, and no family member qualifies for an exemption. For 2018,...
-
Assume you are planning to deposit $1,000 that you will receive one year from today into a tax-free savings account. a. If interest rates are 8 percent per year, what is the value of your planned...
-
Provide a brief definition of discrimination, that covers a range of workplace behaviours, and shows why sexist jokes in the workplace are inappropriate. Briefly describe some of the typical contents...
-
(2) At the beginning of 2019, the subsidiary sold equipment with a 5-year remaining life and a net book value of $50,000(book value; $70,000 and accumulated depreciation; $20,000) to its parent for...
-
HKUST Inc. issued a bond on January 1 st , 2019 with a market interest rate (yield) of 11%. However, HKUST Inc. decided to pay a coupon rate of 9%. The face-value of the bond was 10,000 dollars. This...
-
This year, Paula and Simon (married filing jointly) estimate that their tax liability will be $200,000. Last year, their total tax liability was $170,000. They estimate that their tax withholding...
-
Why is homeostasis defined as the "relative constancy of the internal environments? Does negative feedback or positive feedback tend to promote homeostasis?
-
Enter the beginning balance in each account in your working papers from the Trial Balance columns of the worksheet (Figure). From the worksheet, (1) Journalize and post adjusting and closing entries...
-
Enter the beginning balance in each account in your working papers from the Trial Balance columns of the worksheet (Figure). From the worksheet, (1) Journalize and post adjusting and closing entries...
-
From the following transactions as well as additional data, please complete the entire accounting cycle for Parkers Plowing (use the chart of accounts for 5A-3). 201X Jan. 1 Parker invested $10,000...
-
Mr. Robbins has $2,730 in his checking account and $11,019 in his savings account. How much money does Mr. Robbins have in both accounts combined?
-
You would like to attend to Coachella 2021, end of April 2021. You evaluated that you would need 3000 to fund this project. In order to be sure to be able to get tickets, you would need this amount...
-
Below are the Bavis Company's anticipated raw material purchases from March thru May. Month Raw Material Purchases March $610,000 April $200,000 May $530,000 When raw materials are purchased, about...
Study smarter with the SolutionInn App